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FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site
The Customers allege unauthorized trading, unsuitable investment recommendations, misrepresentation and conversion of funds fom February 2008 to March 2015.
Settlement Amount
$65,000.00
4/5/2016
Customer Dispute
Settled
Allegations
The Customer alleges unsuitable investment recommendations from February 2011 to April 2016.
Settlement Amount
$25,646.82
10/20/2015
Regulatory
Final
Initiated By
FINRA
Allegations
Without admitting or denying the findings, O'Keeffe consented to the sanction and to the entry of findings that he failed to provide documents and information as requested by FINRA during the course of an investigation into allegations that O'Keeffe exercised discretion in a customer's brokerage account without written authorization and facilitated a loan away from the member firm.
Resolution
Acceptance, Waiver & Consent(AWC)
Bar
Bar (Permanent)
Registration Capacities Affected
All Capacities
Start Date
10/20/2015
3/25/2015
Customer Dispute
Settled
Allegations
THE CUSTOMER ALLEGES UNAUTHORIZED TRADING, UNSUITABLE INVESTMENT RECOMMENDATIONS, MISREPRESENTATION, MISAPPROPRIATION AND CONVERSION OF FUNDS AND FAILURE TO OBTAIN PROPER ACCOUNT DOCUMENTS FROM DECEMBER 2012 TO MARCH 2015
Damage Amount Requested
$1,708,885.00
Settlement Amount
$450,000.00
License(s)
The broker is not currently registered with any state or SRO.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.